| View previous topic :: View next topic |
| Author |
Message |
wormholes101
Joined: 11 Mar 2003
|
 Posted: Sat Dec 27, 2008 7:23 pm Post subject: Optional Health and Pension? |
 |
|
Kiwis, Aussies and Brits can't get back their pension unlike Canadians and Americans. Paying into the pension fund is like throwing money down the drain.
My boss told me that paying into the pension fund is optional but with it you have to give up the health insurance too. I was thinking that I could get private health insurance and still come out with dollars in the pocket
Has anyone done this or know if this is legal or even possible? Some I searched around the site and found that some were saying that as an E2 holder your MUST pay into the pension/health scheme.
Any thoughts? |
|
| Back to top |
|
 |
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Sat Dec 27, 2008 7:49 pm Post subject: |
|
|
| It's not optional. It's mandatory. Health and Pension are both MANDATORY. The fact that you don't get it back just means you lose a bit. Plus, I thought Aussies could now get a refund? One of my buddies said so, of course, he's not the most reliable guy so I don't know if he was being stupid or not. |
|
| Back to top |
|
|
wormholes101
Joined: 11 Mar 2003
|
| Posted: Sat Dec 27, 2008 10:25 pm Post subject: |
|
|
thanks krrpok...
any other comfimations of this? I intend to verify this with the pension office on monday. |
|
| Back to top |
|
|
esetters21
Joined: 30 Apr 2006
Location: Seoul
|
| Posted: Sat Dec 27, 2008 11:06 pm Post subject: |
|
|
| Like kp said, it is mandatory. Hagwons like to skirt around the issue and tell you that it is optional in order to save a buck on their part and often get away with not paying into it. In order to have NHIC, you must be paying into NPS as well. |
|
| Back to top |
|
|
John_ESL_White
Joined: 12 Nov 2008
|
| Posted: Sun Dec 28, 2008 12:45 am Post subject: |
|
|
the most important thing here is the HEALTH insurance.
trust me. You want it. There is not private HI in Korea.
If your Haggy tells you so, they are full of spit.
eat the pension and make them pay. If they refuse, use your time here to ruin their school by
1) only playing games
2) listening to your kids talk to each other in korean
3) playing games on your cell phone during class......
get fired and move on to a school that pays into the NHI and pwnsion scheme.
good luck |
|
| Back to top |
|
|
wormholes101
Joined: 11 Mar 2003
|
| Posted: Sun Dec 28, 2008 1:00 am Post subject: |
|
|
| John_ESL_White wrote: |
eat the pension and make them pay. If they refuse, use your time here to ruin their school by
1) only playing games
2) listening to your kids talk to each other in korean
3) playing games on your cell phone during class......
get fired and move on to a school that pays into the NHI and pwnsion scheme. |
It's no big deal. They will do the health/pension if I want but in my case it would be better off not paying pension if I don't have to and can get private health insurance for less than what I would normally pay for pension + health. I realise that the hagwon will be making money out of it but it can be a win-win situation.
As I said, I will check for sure with the pension office on Monday.
BTW, be careful when dispensing this kind of advice. There's no need to make daves such a negative place. Newer members might take your advice to heart and end up screwing themselves. There are much better options to take than doing what you suggested such as contacting the pension office/labour board or having a Korean friend talk to the director.
Last edited by wormholes101 on Sun Dec 28, 2008 1:04 am; edited 1 time in total |
|
| Back to top |
|
|
John_ESL_White
Joined: 12 Nov 2008
|
| Posted: Sun Dec 28, 2008 1:04 am Post subject: |
|
|
| wormholes101 wrote: |
| John_ESL_White wrote: |
eat the pension and make them pay. If they refuse, use your time here to ruin their school by
1) only playing games
2) listening to your kids talk to each other in korean
3) playing games on your cell phone during class......
get fired and move on to a school that pays into the NHI and pwnsion scheme. |
It's no big deal. They will do the health/pension if I want but in my case it would be better off not paying pension if I don't have to and can get private health insurance for less than what I would normally pay for pension + health. I realise that the hagwon will be making money out of it but it can be a win-win situation.
As I said, I will check for sure with the pension office on Monday. |
PRIVATE HEALTH INSURANCE does not exist in Korea.
There is no clinic and no hospital that will take a private policy.... PERIOD.
If they'll pay (haggy), do it, unless you are sure you will not need a doctor for the year you are here.
If you choose to opt out of the NHI and pension... do it, but at your own risk. be extra careful and try not to get sick.
good luck |
|
| Back to top |
|
|
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Sun Dec 28, 2008 1:52 am Post subject: |
|
|
| John_ESL_White wrote: |
PRIVATE HEALTH INSURANCE does not exist in Korea.
There is no clinic and no hospital that will take a private policy.... PERIOD. |
Where do you get this idea? I have supplementary private insurance and at least the one hospital/clinic where my wife gave birth DID take it. Granted, it doesn't work the same, it's a reimbursement rather than immediate discount, but they do take it.
Before trying to be a know-it-all, make sure you actually DO know it all. |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Sun Dec 28, 2008 7:00 am Post subject: Re: Optional Health and Pension? |
|
|
| wormholes101 wrote: |
Kiwis, Aussies and Brits can't get back their pension unlike Canadians and Americans. Paying into the pension fund is like throwing money down the drain.
My boss told me that paying into the pension fund is optional but with it you have to give up the health insurance too. I was thinking that I could get private health insurance and still come out with dollars in the pocket
Has anyone done this or know if this is legal or even possible? Some I searched around the site and found that some were saying that as an E2 holder your MUST pay into the pension/health scheme.
Any thoughts? |
Pension and medical are legally required for ALL "EMPLOYEES".
If your cheating boss has you listed as a "sub contractor" you are getting screwed on all that and your taxes as well.
Americans, Canadians AND Australians get a pension refund.
South Africans are exempt from paying into national pension (by treaty).
Only the Brits, Irish and Kiwis have to wait until retirement to get their pension benefit. |
|
| Back to top |
|
|
John_ESL_White
Joined: 12 Nov 2008
|
| Posted: Sun Dec 28, 2008 7:22 am Post subject: |
|
|
| kprrok wrote: |
| John_ESL_White wrote: |
PRIVATE HEALTH INSURANCE does not exist in Korea.
There is no clinic and no hospital that will take a private policy.... PERIOD. |
Where do you get this idea? I have supplementary private insurance and at least the one hospital/clinic where my wife gave birth DID take it. Granted, it doesn't work the same, it's a reimbursement rather than immediate discount, but they do take it.
Before trying to be a know-it-all, make sure you actually DO know it all. |
u is gettin screwed
NHI is MANDATORY
there is no supplemental health ins in K.
I teach doctors. I know.
basically, you have a supp policy. If you had NHI, you wouldn't have paid upfront and you would have been reimbursed by your supp policy....
your job is screwing you.
If you are married to a K; get on her NHI for god's sake... it takes ten minutes at the local HI office..
If you are not married to a K...then good luck... you know best. |
|
| Back to top |
|
|
PigeonFart
Joined: 27 Apr 2006
|
| Posted: Sun Dec 28, 2008 7:29 am Post subject: |
|
|
If you take out Travel Insurance (which covers Medical needs) from your home country before you come to Korea, then that'd be the same as being covered by the NHIC wouldnt it?
I mean, if you were unfortunate enough to have an accident and needed expesive hospitalization, then you just have to phone your insurer back in your home country...and then they will cover the hospital bills. Isnt that how travel insurance works? Or am i wrong? Surely the major hospitals in Seoul will accept payment from insurance companies from English speaking countries? Or is someone saying that the hospital won't deal with you unless you have a NHIC card or the cash up front? |
|
| Back to top |
|
|
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Sun Dec 28, 2008 8:02 am Post subject: |
|
|
| John_ESL_White wrote: |
u is gettin screwed
NHI is MANDATORY
there is no supplemental health ins in K.
I teach doctors. I know.
basically, you have a supp policy. If you had NHI, you wouldn't have paid upfront and you would have been reimbursed by your supp policy....
your job is screwing you.
If you are married to a K; get on her NHI for god's sake... it takes ten minutes at the local HI office..
If you are not married to a K...then good luck... you know best. |
Can you not read? I'm the first one to have told the guy it's mandatory. I ALSO HAVE SUPPLEMENTARY insurance. Yes, they do have it here in Korea. It's called "Insurance" and it's sold by "Insurance Companies." What the hell do you think all those insurance companies do? Sit on their arses? OK, bad question.
Seriously, think before you post, and if that doesn't work, get your ass into the real world. I have NHIC coverage. I have my nice little book with my name, my wife's name, and my baby's name in it. I also have supplementary insurance through Korean Insurance (don't know if that's the actual English name, only know the Korean name). I got the NHIC rate at the clinic, and the clinic supplied my other insurance with the paperwork so we could get a refund. Is that spelled out enough for you?
Did it cover everything? Of course not. But it was nice to get a chunk of it back. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
